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As previously reported, Bono and Jay-Z have collaborated to produce a charity song for Haiti and now Simon Cowell is doing his part to help the devastated Caribbean nation. Cowell plans on producing a Band-Aid style celebrity recording to benefit the Haiti relief effort.

“I wanted to do something for Haiti, and we had a request from the prime minister to put a record together,” the American Idol judge said while speaking at last night’s National Television Awards in London.

“We haven’t got an awful lot of time, but we are going to do something and attempt to raise as much money as possible,” Cowell declared. “I’ve got to try and get it all together in about 48 hours.”

While Simon Cowell is busy producing his charity single with stars such as Leona Lewis and Susan Boyle, record producer Quincy Jones and Lionel Richie are planning to re-record the 1985 song We Are the World.

The 2010 We Are the World project, like its predecessor, will have big star power behind it with celebrities like Usher, Natalie Cole, John Legend, Wyclef Jean, Sting, Fergie, Alicia Keys, and Justin Timberlake. The single will be recorded on Feb. 1 in Los Angeles.

Michael Jackson, who died in June 2009, was the song’s co-author and, according to Showbiz 411, is expected to be invoked into the new recording.